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Crypto platform OKX announced its official launch in Brazil, offering users with advanced crypto features including trading and staking rewards.

The roll-out would feature a Web3 wallet in Brazil, providing a secured and trusted gateway to DeFi and crypto trading.

The company said in a  Monday official release, that it would provide trading with Brazilian real fiat-on ramp capabilities.

“We know that Brazilians expect fast and liquid trading, along with a secure self-custody wallet solution, all in one app,” said OKX Brazil General Manager Guilherme Sacamone.

The news comes days after the crypto exchange applied for a virtual asset trading platform (VATP) license in Hong Kong. OKX became the first major industry player to apply in Hong Kong under the new crypto regime.

Wallet Features

OKX President Hong Fang said that the OKX wallet comes with a slew of features including easy access to DeFi, NFTs, dApps and more.

Further, the wallet features both Multi-Party Computation (MPC) technology and Account Abstraction (AA) features, which helps in wider adoption among non-technical users.

“We look forward to driving innovation and growth of the Web3 and crypto economy with millions of users as the market matures in Brazil.”

A recent study conducted by the OKX exchange revealed that Brazilians found security as the major concern. Among the responders, 92% urged for a clear and transparent security regulations for their investments. Over 85% voted for proof of reserves (PoR) as a legitimate way of verifying customer assets held by a crypto exchange.

“Given the results of our recent survey, we also recognize that security and transparency are top priorities for crypto users in the country,” says Sacamone.

“Therefore, OKX provides its trading solutions with the best security features, such as our robust Proof of Reserves program.”

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